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9 Cheapest Chicago Neighborhoods for Renters

Maybe you're new to Chicago and aren't sure which neighborhood is best for a tight budget. Perhaps you're a long-time Chicagoan looking to pay less on rent so you can save toward one day buying your own place. Or maybe you're newly single and looking for a neighborhood where you can easily afford a one-bedroom.

Whatever the case may be, there are numerous trendy and eclectic neighborhoods in Chicago that come with an affordable price tag. You don't have to live in Old Town, River North or The Loop to have decent amenities, a nice dose of culture, and bars and restaurants at your fingertips.

Below, we've explored some of the best areas to consider living in if you're on a budget, sorted from lowest to highest.

1. Edgewater

If you're craving lake views without a steep price tag, this is the area for you. Edgewater is a diverse neighborhood north of The Loop that has plenty of green space, which is ideal for those who have pups in tow. The area has many ethnic restaurants due to the neighborhood's abundance of immigrants from Africa and Eastern Europe. Many people also flock to Edgewater for its top-notch antique shopping.

2. Rogers Park

Located on the North Side of the city right near Loyola University, Rogers Park is another diverse neighborhood located near the lake. It's so diverse, in fact, that its residents come from over 80 countries and speak over 40 languages.

If you're looking for somewhere that's affordable but also in a quiet, low-key neighborhood, Rogers Park might be for you. Despite its far north location in the city, Rogers Park still has several L stops that make it accessible.

Photo Credit: Swedish American Museum

3. Andersonville

Those with a penchant for eclectic shopping, casual bars and trendy restaurants might find exactly what they're looking for in Andersonville. This LGBTQ-friendly area is rich in unique businesses, shops and restaurants, as well as the popular Swedish American Museum.

In Andersonville, you'll be able to try a new restaurant each weekend without having to visit the same joint twice. Places like Hamburger Mary's, Big Jones, Jin Ju and Vincent are all located here.

4. Ravenswood

A neighborhood within a neighborhood, Ravenswood is located in Lincoln Square on the North Side of the city. Known as one of the city's first planned suburbs, Ravenswood was designed to be the perfect spot for commuters.

The artsy neighborhood is quiet, calm and family-friendly. The Lillstreet Art Center calls this neighborhood home, as do countless independent artists. The annual Ravenswood Art Walk, in which galleries open their doors for the weekend, draws locals to Ravenswood in hordes. Ravenswood is also the birthplace of many craft breweries, such as Dovetail and Begyle Brewing.

5. Lincoln Square

Popular among late twenty-somethings and young families alike, Lincoln Square is a quiet, mostly residential neighborhood on the North Side of Chicago. The neighborhood's German heritage still shines through in the form of the area's DANK Haus German American Cultural Center and a handful of restaurants.

The burgeoning area is filled to the brim with new restaurants, bars, shops and music venues.

6. Albany Park

Located on the northwest side of Chicago, Albany Park grows more and more popular each year. The neighborhood—known as one of the most diverse in the entire country—is chock-full of ethnic grocery stores, restaurants and specialty shops. The majority of residents are Hispanic, though there is also a significant Korean population.

7. Avondale

A foodie's paradise, Avondale was recently named one of the country's most up-and-coming neighborhoods. Michelin-starred Parachute calls this neighborhood home, as does famed burger spot Kuma's Corner.

Like Fulton Market, Avondale formerly housed many of the city's industries and factories. The primarily Hispanic neighborhood also features a sizable Polish population, and, in turn, plenty of meat shops and delis.

8. Hyde Park

Known for being the home of the University of Chicago and former president Barack Obama, Hyde Park is a green area on the South Side of the city. If you prefer spacious parks and historic buildings to modern high-rises and trendy bars, Hyde Park might be worth considering. The neighborhood is a cultural mecca, with Frank Lloyd Wright's Robie House, the Museum of Science and Industry, the DuSable Museum of African American History and the Hyde Park Art Center all in the area.

Because of its location on the South Side of the city, Hyde Park wouldn't be an ideal choice for those who work or spend ample time on the North Side.

9. North Center

North Center is a culturally rich area with plenty of restaurants and bars. The historically German neighborhood still has many authentic restaurants, such as Laschet's Inn and Resi's Bierstube.

The residential nooks of the neighborhood are charming, and feature old, redbrick multi-unit apartments. Lane Tech High School, one of the best public high schools in Illinois, is located just a few blocks from this neighborhood.

Thinking about making the move to Chicago? Use Doorsteps to look at apartments for rent today!

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